FTSE Group today introduced seven indexes based on a new system of classifying companies globally in the environment market sector, according to a statement from the company.
The classification system enables identifying companies that provide environmental products and services, facilitating a peer-to-peer comparison on a global or regional basis, the statement said.
It sorts companies into six sectors in environmental technology: renewable and alternative energy; energy efficiency; water infrastructure and technology; pollution control; waste management and technology; and environmental support services.
Impax Asset Management provides the research underlying the classification and new indexes, said FTSE spokeswoman Jill Mathers.
The new indexes include the FTSE Environmental Opportunities U.S. index, which has 134 companies and a total market capitalization of $559 million. Its largest components are United Technologies, which accounts for 8.95% of the index; 3M, 7.19%; and Emerson Electric, 4.47%
The others are the FTSE Environmental Opportunities U.K. index, FTSE Environmental Opportunities U.K. Alternative Investment Market index of generally smaller-cap growth companies, FTSE Environmental Opportunities Japan index, FTSE Environmental Opportunities Europe index, FTSE Environmental Opportunities Asia Pacific index, and FTSE Environmental Opportunities Asia Pacific ex-Japan index.
FTSE plans to rebalance the indexes every June and December, Ms. Mathers said.
FTSE is seeking to license the indexes for passive and other funds and benchmarks, but as yet has no deals, Ms. Mathers said.